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Fed Audit Compromise Amendment Praised by Fed Critics

Huffington Post

Friday, May 7, 2010

A trio of prominent economists said in an email to HuffPost on Friday that the compromised version of an amendment to audit the Federal Reserve would still be a "great victory."

Economists Robert Auerbach, James Galbraith and Dean Baker said in a statement that the amendment, sponsored by Sen. Bernie Sanders (I-Vt.), "calls for an audit of a broad array of items that include deliberations in the back room of the New York Federal Reserve Bank. Senator Sanders was precise in including some of the events from the backroom of the Fed that he wants audited under this amendment. The Congressional intent is clear."